Can I retire at age 70 with 2,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$244,434$242,257$240,132$238,059$236,035$235,040
2 years$121,007$118,753$116,569$114,451$112,397$111,393
3 years$79,870$77,607$75,428$73,330$71,310$70,327
4 years$59,306$57,049$54,892$52,830$50,859$49,905
5 years$46,970$44,727$42,599$40,579$38,662$37,740
6 years$38,749$36,523$34,426$32,451$30,592$29,704
7 years$32,879$30,672$28,608$26,680$24,879$24,025
8 years$28,479$26,292$24,262$22,381$20,640$19,819
9 years$25,058$22,892$20,897$19,064$17,382$16,594
10 years$22,323$20,178$18,218$16,433$14,810$14,056
11 years$20,087$17,963$16,039$14,302$12,737$12,015
12 years$18,225$16,123$14,234$12,545$11,038$10,348
13 years$16,650$14,570$12,717$11,075$9,625$8,967
14 years$15,302$13,244$11,427$9,831$8,437$7,810
15 years$14,135$12,099$10,317$8,768$7,429$6,831
16 years$13,114$11,100$9,354$7,850$6,566$5,997
17 years$12,214$10,223$8,511$7,054$5,822$5,282
18 years$11,416$9,446$7,770$6,357$5,176$4,664
19 years$10,702$8,755$7,113$5,744$4,614$4,128
20 years$10,060$8,135$6,528$5,202$4,121$3,661
21 years$9,480$7,578$6,004$4,721$3,688$3,252
22 years$8,954$7,074$5,534$4,293$3,306$2,894
23 years$8,474$6,616$5,110$3,909$2,967$2,579
24 years$8,035$6,199$4,726$3,566$2,667$2,300
25 years$7,631$5,817$4,377$3,256$2,400$2,054
26 years$7,260$5,467$4,059$2,977$2,162$1,836
27 years$6,916$5,145$3,769$2,725$1,949$1,643
28 years$6,597$4,848$3,504$2,497$1,759$1,471
29 years$6,301$4,574$3,261$2,290$1,588$1,318
30 years$6,025$4,319$3,037$2,101$1,435$1,181
31 years$5,768$4,083$2,832$1,930$1,297$1,059
32 years$5,527$3,864$2,642$1,774$1,173$950
33 years$5,301$3,659$2,467$1,631$1,062$853
34 years$5,089$3,468$2,305$1,501$962$766
35 years$4,889$3,289$2,155$1,382$871$688
36 years$4,701$3,122$2,016$1,272$789$618
37 years$4,524$2,965$1,887$1,172$715$556
38 years$4,356$2,818$1,767$1,081$648$500
39 years$4,197$2,680$1,655$996$588$449
40 years$4,047$2,549$1,552$919$533$404
41 years$3,904$2,427$1,455$848$484$363
42 years$3,769$2,311$1,365$782$439$327
43 years$3,640$2,202$1,281$722$398$294
44 years$3,517$2,099$1,202$667$362$265
45 years$3,400$2,002$1,129$616$328$238
46 years$3,288$1,909$1,060$569$298$214
47 years$3,182$1,822$996$526$271$193
48 years$3,080$1,740$936$486$246$174
49 years$2,983$1,661$880$449$223$156
50 years$2,890$1,587$827$415$203$141

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,960,000, adding $3,814 every year, while hoping to spend $42,354 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 42/37/21 Blend
69$2,960,000$2,960,000$2,960,000$2,960,000
70$3,265,854$3,108,974$3,063,094$3,382,785
71$3,553,907$3,216,250$3,120,643$3,573,567
72$3,869,922$3,327,362$3,178,701$3,775,654
73$4,216,705$3,442,455$3,237,240$3,993,635
74$4,597,351$3,561,676$3,296,229$4,228,992
75$5,015,264$3,685,182$3,355,636$4,483,355
76$5,474,198$3,813,133$3,415,426$4,758,515
77$5,978,285$3,945,695$3,475,562$5,056,442
78$6,532,079$4,083,043$3,536,002$5,379,303
79$7,140,597$4,225,358$3,596,704$5,729,480
80$7,809,364$4,372,826$3,657,620$6,109,594
81$8,544,468$4,525,644$3,718,699$6,522,527
82$9,352,618$4,684,015$3,779,890$6,971,451
83$10,241,202$4,848,149$3,841,133$7,459,857
84$11,218,362$5,018,266$3,902,369$7,991,583
85$12,293,068$5,194,594$3,963,531$8,570,857
86$13,475,203$5,377,371$4,024,551$9,202,330
87$14,775,655$5,566,843$4,085,355$9,891,122
88$16,206,422$5,763,268$4,145,864$10,642,868
89$17,780,722$5,966,913$4,205,996$11,463,772
90$19,513,120$6,178,056$4,265,661$12,360,663
91$21,419,663$6,396,986$4,324,765$13,341,063
92$23,518,034$6,624,004$4,383,211$14,413,250
93$25,827,717$6,859,423$4,440,891$15,586,340
94$28,370,178$7,103,569$4,497,695$16,870,373
95$31,169,074$7,356,782$4,553,506$18,276,403
96$34,250,469$7,619,413$4,608,197$19,816,604
97$37,643,084$7,891,832$4,661,639$21,504,384
98$41,378,566$8,174,419$4,713,692$23,354,509
99$45,491,788$8,467,574$4,764,208$25,383,242
100$50,021,175$8,771,710$4,813,035$27,608,495